Atlanta Project Thread IV - Page 328

bryantm3 · #**6541** Posted **Oct 25, 2022, 1:51 AM**

Quote:

Originally Posted by Libertarian

What good is done when the space sits empty or underutilized?

If the market worked the way it was supposed to, they'd reduce the rent until they found someone willing to fill the space.

montydawg · #**6542** Posted **Oct 25, 2022, 12:38 PM**

Quote:

Originally Posted by bryantm3

If the market worked the way it was supposed to, they'd reduce the rent until they found someone willing to fill the space.

Wrong. Buildings keep their rent at a rate which matches the type of business they want to attract. If they lower the rent, they would theoretically be able to sign a long term lease with the likes of cash checking places, lottery stores, etc. that would potentially reduce the ‘prestige’ of their entire property or the neighborhood in general. For that reason, they would rather leave the space empty rather than rent to anyone. Also, many retail spaces are long term leases, so the landlords are playing the long game vs risking degrading their property.

shivtim · #**6543** Posted **Oct 25, 2022, 5:00 PM**

McAuley Station construction update; one block north of King Memorial Station.

Source

Libertarian · #**6544** Posted **Oct 25, 2022, 5:43 PM**

Do you remember the "Midtown Mile" episode? It promoted the concept of national upscale retail marketers densely situated along Peachtree Street between 5th and 14th. Chicago's Magnificant Mile was supposed to be the model. Nothing came of it and these days the Chicago prototype is struggling to say the least. My aunts used to go shopping the "Mile" back in the day, and that experience will never be replicated in today's Chicago or elsewhere. Even when the Midtown Mile was being discussed I knew it was a nonstarter, and that experience convinced me that the city planning muppets in Atlanta had no grasp on reality.

shivtim · #**6545** Posted **Oct 25, 2022, 6:12 PM**

Planning permit filed for "Terminal South," a mixed used development where Hank Aaron meets the Southside Beltline. Renovation of two existing industrial buildings located at 1161 Ridge Ave (Terminal South Building) and 1155 Hank Aaron Drive (The Bakery Building).
I'm having a hard time googling anything about this because "Terminal South" just brings up the airport.

Martinman · #**6546** Posted **Oct 25, 2022, 10:26 PM**

Quote:

Originally Posted by shivtim

McAuley Station construction update; one block north of King Memorial Station.

I had never heard of this. I am so out of the loop with all of the new development.

Martinman · #**6547** Posted **Oct 25, 2022, 10:36 PM**

Quote:

Originally Posted by Street Advocate

Underwhelmed with how the building meets the street.

They can do this on Marietta street but not in the middle of Midtown?

bryantm3 · #**6548** Posted **Oct 25, 2022, 11:52 PM**

Quote:

Originally Posted by Martinman

They can do this on Marietta street but not in the middle of Midtown?

Where is that supposed to be?

Ant131531 · #**6549** Posted **Oct 26, 2022, 2:50 PM**

Quote:

Originally Posted by bryantm3

Where is that supposed to be?

https://atlanta.urbanize.city/post/west-midtown-office-project-breaking-ground-sterling-bay-asana

NYbyWAYofGA · #**6550** Posted **Oct 26, 2022, 6:38 PM**

Quote:

Originally Posted by RATBOYKEV

yes

This made my skin crawl....

NYbyWAYofGA · #**6551** Posted **Oct 26, 2022, 6:44 PM**

Quote:

Originally Posted by Martinman

They can do this on Marietta street but not in the middle of Midtown?

Atl is such a weird city. Stuff like this peeves the heck out of me...

Atlriser · #**6552** Posted **Oct 26, 2022, 7:33 PM**

Honestly the directly above comments regarding BrickWorks make no sense at all…

atlantaguy · #**6553** Posted **Oct 26, 2022, 7:35 PM**

Quote:

Originally Posted by NYbyWAYofGA

Atl is such a weird city. Stuff like this peeves the heck out of me...

How so?

atlantaguy · #**6554** Posted **Oct 26, 2022, 7:36 PM**

Quote:

Originally Posted by NYbyWAYofGA

This made my skin crawl....

That's the view flying into either L.A. or San Diego.

Terminus · #**6555** Posted **Oct 26, 2022, 7:44 PM**

Quote:

Originally Posted by NYbyWAYofGA

Atl is such a weird city. Stuff like this peeves the heck out of me...

It's because the suburban conveniences are so embedded in our commercial real estates market.

A place like Marietta Street (or the whole Howell Mill Road corridor) can pretend to be urban, while still providing a huge amount of parking. This makes it be seen as "safe" for the retailers.

The biggest challenge for any truly urban retail in Atlanta is that we've ringed the core areas where the most vibrant retail "should" be, with dozens of satellite districts. This allows the stores to access the urban market without having to compromise their prototypes for the more difficult urban sites (e.g. lack of coordinated retail programming, lack of convenient on-site and street parking, irregular footprints, etc.). The Midtown Mile has struggled for this reason, as any commercial broker trying to lease there will attest. I believe its future is more residential oriented retail and services than destination retail like PCM, Westside Provisions, etc.

The only truly urban location that I think has any change of success is Centennial Yards/South Downtown. We're very fortunate to have two very, very long-term developers there who are working together to create a cohesive destination, as opposed to a haphazard collection of disconnected retail spaces.

NYbyWAYofGA · #**6556** Posted **Oct 26, 2022, 8:31 PM**

Quote:

Originally Posted by atlantaguy

How so?

See Terminus' answer above.

NYbyWAYofGA · #**6557** Posted **Oct 26, 2022, 8:32 PM**

Quote:

Originally Posted by atlantaguy

That's the view flying into either L.A. or San Diego.

Yikie...

NYbyWAYofGA · #**6558** Posted **Oct 26, 2022, 8:35 PM**

Quote:

Originally Posted by Terminus

It's because the suburban conveniences are so embedded in our commercial real estates market.

A place like Marietta Street (or the whole Howell Mill Road corridor) can pretend to be urban, while still providing a huge amount of parking. This makes it be seen as "safe" for the retailers.

The biggest challenge for any truly urban retail in Atlanta is that we've ringed the core areas where the most vibrant retail "should" be, with dozens of satellite districts. This allows the stores to access the urban market without having to compromise their prototypes for the more difficult urban sites (e.g. lack of coordinated retail programming, lack of measure parking, irregular footprints). The Midtown Mile has struggled for this reason, as any commercial broker trying to lease there will attest. I believe its future is more residential oriented retail and services than destination retail like PCM, Westside Provisions, etc.

The only truly urban location that I think has any change of success is Centennial Yards/South Downtown. We're very fortunate to have two very, very long-term developers there who are working together to create a cohesive destination, as opposed to a haphazard collection of disconnected retail spaces.

Thank you Terminus. You get it.

RocketSurgeon · #**6559** Posted **Oct 27, 2022, 12:00 AM**

I might have the context wrong because I only skim these dick swinging contests debates, but it seems like everyone has a lot of great ideas about how developers should build things but none about how business owners can make viable use out of them.

I go to Ace Hardware in Midtown and see 1-2 other customers at most. Meanwhile my building must get thousands of packages a week.

Some of you make it sound like we're only a couple zoning regulations away from erasing cars and Amazon Prime from the 21st century.

Y'all are exhausting.

shivtim · #**6560** Posted **Oct 27, 2022, 12:24 PM**

^ACE is retail. I haven't seen one comment on here saying retail should be required, and I've seen multiple comments describing how "active use" is what's required. It doesn't need to be an ACE, but it can't be a blank wall or a surface parking lot.